Equilibrium unemployment and capital intensity under product and labor market imperfections

Arbeitspapier

We study the implications of product and labor market imperfections for equilibrium unemployment under both exogenous and endogenous capital intensity. With endogenous capital intensity, stronger labor market imperfections always increase equilibrium unemployment. The relationship between the long-run unemployment and the intensity of product market competition is not necessarily monotonic, but there is an elasticity of substitution between capital and labor below one such that the long-run equilibrium unemployment is an increasing function of product market imperfections when the elasticity exceeds this threshold. Higher interest rates increase (decrease) the long-run equilibrium unemployment when the elasticity of substitution is below (above) one.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: CESifo Working Paper ; No. 1343

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Investment; Capital; Intangible Capital; Capacity ; Production, Pricing, and Market Structure; Size Distribution of Firms ; Trade Unions: Objectives, Structure, and Effects ; Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
• Thema: equilibrium unemployment ; product market imperfections ; capital intensity ; wage bargaining ; Arbeitslosigkeit ; Arbeitsmarkttheorie ; Unvollkommener Markt ; Wettbewerb ; Investition ; Lohnverhandlungstheorie ; Kapitalintensität ; Theorie

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Kauppi, Heikki ; Koskela, Erkki ; Stenbacka, Rune
• Ereignis: Veröffentlichung
• (wer): Center for Economic Studies and ifo Institute (CESifo)
• (wo): Munich
• (wann): 2004

Weitere Informationen

• Handle: http://hdl.handle.net/10419/18737
• Letzte Aktualisierung: 10.03.2025, 11:44 MEZ